Jordan Capital & Investment Fund (JCIF), the largest private sector investment fund in Jordan, announced that it has finalised a strategic investment to acquire an estimated 28% stake in Amman-based Horizon for Plastic Products Co.
Established in 2000 in King Abdallah II Industrial City, Horizon initially produced a variety of plastic containers for the chemical and paint industries. The company was among the first in the region to adopt dry offset printing technology, later expanding into the food sector and other related industries.
Later, the company started manufacturing low-thickness containers with in-mould labelling, employing cutting-edge technology and robotics. The company manufactures an extensive range of rigid plastic containers (with filling capacities from 0.1 litres up to 35 litres), in addition to custom-designed containers tailored to client specifications. With substantial production and storage capacity, this growth is evident in its increased market share. As of 2023, Horizon exported to over 15 countries, with export sales accounting for approximately 40% of total revenue.
The plastics company seeks to strengthen its market positioning and expand its exports across the region by leveraging the latest production technology advancements and diversifying its product line to meet growing demand both regionally and internationally.
“Our investment in Horizon will help the company develop new product lines and technologies, expand existing facilities, and foster vertical integration. This will create new employment opportunities, primarily from local communities, contribute to Jordan’s manufacturing sector, and boost national exports,” says Hani Al-Qadi, Chairman of the Board of Directors, JCIF.
“We are delighted to welcome JCIF as a significant shareholder in our company,” says Yaser Elian, Managing Partner at Horizon for Plastic Products Co. “As we witness growing demand for plastic packaging solutions across various industries, we aim to strengthen our market position through a commitment to quality and innovation, and by building strong relationships with local and regional clients. With JCIF as our new partner, we will be investing in innovative technologies and solutions that serve diverse industrial sectors, while enhancing our efficiency and production capacity. JCIF brings institutional credibility, strategic expertise, and solid dependability to support these future plans.”
“This partnership with Horizon is not just an investment; it represents our belief in the potential of Jordanian industries to compete on both the regional and global stages. By supporting local manufacturers, we are not only driving economic growth but also fostering innovation and sustainability within the plastic products sector,” adds JCIF CEO Faris Sharaf.
Officially launched in 2022 with a committed capital of 275 million Jordanian dinars (approx. $388 million) via two investment vehicles owned by 16 Jordanian commercial and Islamic banks, JCIF invests in promising Jordanian companies. To date, the fund has invested approximately 50 million dinars in vital and promising sectors, particularly in food security and IT, with ambitious plans for further investments in agriculture, education, healthcare, and manufacturing.
